Mixed Global Markets Reflect Optimism

(MENAFN) Global markets showed a mixed performance on Monday as investors remained hopeful that the Federal Reserve might begin reducing interest rates this month.

At the same time, caution prevailed ahead of the US non-farm payrolls report scheduled for release on Friday.

According to estimates from money markets, there is a 90% probability that the Fed will implement a 25-basis-point rate cut on September 17.

Analysts anticipate that the central bank will execute two such cuts in total, with the subsequent reduction planned for December.

The Trump administration continues to voice criticism of the Federal Reserve.

Treasury Secretary Scott Bessent stated on Monday that although the Fed should maintain its independence, it has committed errors.

He also dismissed claims that actions taken by the Trump administration have unsettled financial markets.

In a related development, President Trump remarked that India purchases most of its oil and military equipment from Russia, with only minimal imports from the United States. He added that it is now too late to lower tariffs imposed on New Delhi.

Precious metals maintained their upward momentum, fueled by optimism about upcoming rate cuts. Gold hit an unprecedented peak of $3,508.92 on Tuesday after six straight days of gains, currently trading near $3,496, reflecting a 0.6% increase.

Silver also continued its ascent for the fourth consecutive trading day, reaching $40.82 per ounce, the highest price since September 2011.

The US 10-Year Treasury bond yield stabilized at 4.25% on Tuesday, increasing by 2 basis points.

Meanwhile, the US dollar index rose by 0.2% to 97.9, following a five-day decline.

Brent crude oil traded at $68.3 per barrel, up 0.4%.

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